Traders work on the floor of the New York Stock Exchange on May 13, 2014 in New York City. The Dow Jones industrial average rose 19.97 points, or 0.12 percent to close at record highs again on Tuesday. ((Photo by Spencer Platt/Getty Images))

Today: Another analyst joins the chorus of experts suggesting the recent downturn in tech stocks has brought about a buying opportunity. Also: Google gains despite European court ruling.

"We believe the recent pullback represents a particular opportunity among large cap Internet stocks, with multiples having retraced to levels not seen for more than two years with no/little change in fundamentals," May wrote in a note.

For the larger companies, however, the decline brought down ratios that compare financial performance to stock prices, leading May to suggest that they now offer investors "growth at a reasonable price."

The two most prominent Silicon Valley stocks May focused on were Google and Facebook, which have declined 11.9 percent and 17.6 percent from their 52-week highs respectively. Along with Amazon, May called the stocks "just what the portfolio doctor ordered."

"We believe this pullback not only creates an opportunity but has positioned large cap Internet stocks well relative to the key factors many portfolio managers are seeking in today's market," he wrote.

May's note is likely to be one of a flurry, as analysts react to the massive pullback in tech stocks amid an earnings season that has produced few Silicon Valley surprises but extreme volatility on Wall Street. On Monday, some of the region's most affected stocks received backing from analysts that helped shore up their prices.

The highest court in Europe ruled Tuesday that residents should be able to control some of what appears when their name is searched, a concept known as "the right to be forgotten." The ruling stems from a case in Spain involving a 1998 newspaper notice of a home being auctioned due to the man's unpaid welfare debt; while the debt was settled, the notice remained and appeared in Google searches. "If Google was great before, it's perfect now, because there are game rules to go by," the plaintiff, Mario Costeja, said Tuesday. Mountain View-based Google, which gained 0.6 percent to $541.54 Tuesday, said it was disappointed in the ruling and now faces a possible rush of requests for removal of links.